The Financial Services and Markets Act 2000 (EEA Passport Rights) Regulations 2001

[^key-6acba463f99b7b89cbd0ebff80bf2223]: Words in reg. 7(4)(b) substituted (10.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) (No. 2) Order 2013 (S.I. 2013/642), arts. 1, 3(f)(i)

[^key-d71b4cb188e277199ff38053d44ad800]: Reg. 7(6) inserted (10.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) (No. 2) Order 2013 (S.I. 2013/642), arts. 1, 3(f)(ii)

[^key-49872a96589eac27a9d293b3dca09830]: Words in reg. 8 substituted (10.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) (No. 2) Order 2013 (S.I. 2013/642), arts. 1, 3(g)

[^key-ec0416667533a0afe3beb52e9b557a4d]: Words in reg. 9 substituted (10.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) (No. 2) Order 2013 (S.I. 2013/642), arts. 1, 3(h)(i)

[^key-dfd7258eedb57411664ed65f4f42dbbf]: Reg. 9(6) inserted (10.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) (No. 2) Order 2013 (S.I. 2013/642), arts. 1, 3(h)(ii)

[^key-3c3e19815e36194a445f05596ecf88a3]: Words in reg. 10 substituted (10.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) (No. 2) Order 2013 (S.I. 2013/642), arts. 1, 3(i)

[^key-ff26a65e8df7b5aca388b36d6aa280c7]: Words in reg. 20 substituted (10.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) (No. 2) Order 2013 (S.I. 2013/642), arts. 1, 3(k)

[^key-91bb27e6a5785f3ebfce5c2ba0b087d6]: Words in reg. 21 substituted (10.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) (No. 2) Order 2013 (S.I. 2013/642), arts. 1, 3(k)

[^key-1b2438303c78d3a50c18d0e95d9ae3e4]: Reg. 7A inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 14(4)

[^key-06b7b25858ba6ea626017aa8e7093f77]: Reg. 17A inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 14(5)

[^key-58e969f76207db0e4f8c52545a1da794]: Reg. 2(6)(7) inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 14(2)

[^key-449cf458959db79039da7b8e245f37c9]: Reg. 2(6)(aa) inserted (22.7.2013) by The Alternative Investment Fund Managers (Amendment) Regulations 2013 (S.I. 2013/1797), regs. 1(5), 5(a)

[^key-abb82d9e6e519a02da761746df8d57ab]: Reg. 3(5) inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 14(3)

[^key-6cc4ab618ce858182d23492c5065a180]: Words in reg. 17A(1) substituted (22.7.2013) by The Alternative Investment Fund Managers (Amendment) Regulations 2013 (S.I. 2013/1797), regs. 1(5), 5(b)

[^key-2cee0068ba0a53fb25317eedfe8d6afc]: Words in reg. 2(3)(c) substituted (1.1.2014) by The Capital Requirements Regulations 2013 (S.I. 2013/3115), reg. 1(2), Sch. 2 para. 56(2)(a)(i)

[^key-e104b9bbf59f2ff7d573b6d9b78bd845]: Reg. 2(3)(d) substituted (1.1.2014) by The Capital Requirements Regulations 2013 (S.I. 2013/3115), reg. 1(2), Sch. 2 para. 56(2)(a)(ii)

[^key-ca378c64be52b6e9b90436428ceed2b4]: Words in reg. 2(4)(c) substituted (1.1.2014) by The Capital Requirements Regulations 2013 (S.I. 2013/3115), reg. 1(2), Sch. 2 para. 56(2)(b)(i)

[^key-e3334e7c4fa47bab7a3f3ec0771c1fba]: Reg. 2(4)(d) substituted (1.1.2014) by The Capital Requirements Regulations 2013 (S.I. 2013/3115), reg. 1(2), Sch. 2 para. 56(2)(b)(ii)

[^key-2fa9805aa10885d4a376072eb1e0107c]: Reg. 2A(2) substituted (1.1.2014) by The Capital Requirements Regulations 2013 (S.I. 2013/3115), reg. 1(2), Sch. 2 para. 56(3)

[^key-85c057654956f57c36a583b355d59295]: Words in reg. 11(1) substituted (1.1.2014) by The Capital Requirements Regulations 2013 (S.I. 2013/3115), reg. 1(2), Sch. 2 para. 56(4)

[^key-02ed48976bdcd62fcffd8e0d17c90cff]: Words in reg. 1(2) substituted (1.1.2016) by The Solvency 2 Regulations 2015 (S.I. 2015/575), reg. 1(2), Sch. 2 para. 13(2)

[^key-1c43db125e5c8e0bec9ba390b34decd5]: Words in reg. 2(5)(e) omitted (1.1.2016) by virtue of The Solvency 2 Regulations 2015 (S.I. 2015/575), reg. 1(2), Sch. 2 para. 13(3)(a)

[^key-f75154dc2c6ce89f670c6b73b0832b39]: Words in reg. 2(5)(e) inserted (1.1.2016) by The Solvency 2 Regulations 2015 (S.I. 2015/575), reg. 1(2), Sch. 2 para. 13(3)(b)

[^key-385b5dc3eac5fcb1c97304216e1affd9]: Words in reg. 3(3)(a) substituted (1.1.2016) by The Solvency 2 Regulations 2015 (S.I. 2015/575), reg. 1(2), Sch. 2 para. 13(4)(i)

[^key-92da2fb32cb20eab800081c76edc46a0]: Words in reg. 3(3)(e) omitted (1.1.2016) by virtue of The Solvency 2 Regulations 2015 (S.I. 2015/575), reg. 1(2), Sch. 2 para. 13(4)(ii)(aa)

[^key-80deaf1a9d1b7df3be89424f93256e62]: Words in reg. 3(3)(e) inserted (1.1.2016) by The Solvency 2 Regulations 2015 (S.I. 2015/575), reg. 1(2), Sch. 2 para. 13(4)(ii)(bb)

[^key-fd09d39fd6684897ff76d484763bbef8]: Words in reg. 13(1) substituted (1.1.2016) by The Solvency 2 Regulations 2015 (S.I. 2015/575), reg. 1(2), Sch. 2 para. 13(5)

[^key-4d9b56b9c2a9d094c4e1c78e38730ffa]: Words in reg. 15(1) substituted (1.1.2016) by The Solvency 2 Regulations 2015 (S.I. 2015/575), reg. 1(2), Sch. 2 para. 13(5)

[^key-87f00706a88cb448930b8985018ffd49]: Words in reg. 16(1) substituted (1.1.2016) by The Solvency 2 Regulations 2015 (S.I. 2015/575), reg. 1(2), Sch. 2 para. 13(5)

[^M_F_37e6b271-7e3a-4bc8-fb1e-8b42bc13e4d6]: Reg. 19 renumbered as reg. 19(1) (10.12.2007) by The Reinsurance Directive Regulations 2007 (S.I. 2007/3253), reg. 1(1), Sch. 2(b)(i)

[^M_F_76eee191-5e75-4f24-a4bc-acb425ce6b9b]: Reg. 19(2) inserted (10.12.2007) by The Reinsurance Directive Regulations 2007 (S.I. 2007/3253), reg. 1(1), Sch. 2(b)(ii)

[^key-bab0253271de20b790520cc43df54e86]: Words in reg. 19(2)(a) substituted (1.1.2016) by The Solvency 2 Regulations 2015 (S.I. 2015/575), reg. 1(2), Sch. 2 para. 13(6)

[^M_F_19dc1388-4997-47d2-ccfe-98d4b8da6817]: Reg. 10(b) inserted (10.12.2007) by The Reinsurance Directive Regulations 2007 (S.I. 2007/3253), reg. 1(1), Sch. 2(a)(ii)

[^M_F_4f4349a8-ae19-4f97-bdce-cb75cd7d3289]: Words in reg. 10 renumbered as reg. 10(a) (10.12.2007) by The Reinsurance Directive Regulations 2007 (S.I. 2007/3253), reg. 1(1), Sch. 2(a)(i)

[^key-84aaa4fd147a1e63315b1d2de20c88f8]: Reg. 7B inserted (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), art. 1(5), Sch. 1 para. 9(5) (with Pt. 4)

[^key-a34084e75e3cea1d031dc540b11dc8d6]: Reg. 9A inserted (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), art. 1(5), Sch. 1 para. 9(6) (with Pt. 4)

[^key-619d40145b0bcc4aec64c81fa216faaf]: Reg. 17B inserted (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), art. 1(5), Sch. 1 para. 9(7) (with Pt. 4)

[^key-1e49f3ee5a5cae9ab50ad43d216e2940]: Reg. 2(8) inserted (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), art. 1(5), Sch. 1 para. 9(3) (with Pt. 4)

[^key-32d17de1b93785054eb01331f5378bdb]: Reg. 3(6) inserted (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), art. 1(5), Sch. 1 para. 9(4) (with Pt. 4)

[^key-efde115efaad24defb9b1a79a0a3cb0e]: Words in reg. 1(2) inserted (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), art. 1(5), Sch. 1 para. 9(2) (with Pt. 4)

[^key-5cad72c49693a65d864423478bd18c71]: Word in reg. 1(2) substituted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 3 para. 5(2) (with reg. 7)

[^key-c268ff8fbe0dbb9c6f5e812896fda40f]: Word in reg. 3(2ZA) substituted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 3 para. 5(3) (with reg. 7)

[^key-e160a58c9684fb32f5cd92f1ca22827c]: Reg. 7C inserted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 22(4)

[^key-8dd938894c8d1101dce67a8c81d319c8]: Regs. 17C, 17D inserted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 22(5)

[^key-2acc6e974a1650fb40a7a9dba7de2e9a]: Reg. 2(9) inserted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 22(2)

[^key-c8b389576290aaf4b343e188f74e04d9]: Reg. 3(4) substituted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 22(3)

[^key-086c51241f4666cdbc9558cb2ad68d13]: Words in reg. 18(1) substituted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 22(6)

[^key-938e84d29801337ac39a1705a1a3cc4a]: Regulations extended (Gibraltar) (with modifications) (31.12.2020) by S.I. 2001/3084, arts. 2, 2A, 5 (as amended by The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/589), regs. 1(3), 5, 6, 9 (with reg. 12) (as amended by S.I. 2020/1274, regs. 1, 2); 2020 c. 1, Sch. 5 para. 1(1)) (as amended (27.2.2025) by S.I. 2025/82, reg. 1(2), Sch. 9 para. 4(f))

Investment firms , management companies, credit institutions and financial institutions: changes to branch details

Investment firms and management companies: changes to services

UK investment firms , management companies, credit institutions and financial institutions: changes to branch details

UK investment firms and management companies: changes to services

Management companies, credit institutions and financial institutions: changes to branch details

Investment firms: changes to branch details

4A

• (1) An investment firm which has established a branch in the United Kingdom in exercise of an EEA right must not—

• (a) make a change in the requisite details of the branch,

• (b) use, for the first time, any tied agent established in the United Kingdom, or

• (c) cease to use tied agents established in the United Kingdom,

unless the requirements of paragraph (3) have been complied with.

• (2) Where those requirements have been complied with, the firm’s permission is to be treated as varied accordingly.

• (3) The requirements are that—

• (a) the firm has given a notice to its home state regulator stating the details of the proposed change, and

• (b) the period of one month beginning with the day on which the firm gave the notice has elapsed.

• (4) Paragraph (1) does not apply to a change occasioned by circumstances beyond the firm’s control.

Management companies: changes to services

Investment firms: changes to services

5A

• (1) An investment firm which is providing services in the United Kingdom in exercise of an EEA right must not—

• (a) make a change in any of the matters referred to in regulation 3(2)(b),

• (b) use, for the first time, any tied agent to provide services in the United Kingdom, or

• (c) cease to use tied agents to provide services in the United Kingdom,

unless the requirements of paragraph (3) have been complied with.

• (2) Where those requirements have been complied with, the firm’s permission is to be treated as varied accordingly.

• (3) The requirements are that—

• (a) the firm has given a notice to its home state regulator stating the details of the proposed change, and

• (b) the period of one month beginning with the day on which the firm gave the notice has elapsed.

• (4) Paragraph (1) does not apply to a change occasioned by circumstances beyond the firm’s control.

Insurance firms: changes to branch details

Insurance firms: changes to services

UK ... management companies, credit institutions and financial institutions: changes to branch details

UK investment firms: changes to branch details

11A

• (1) A UK investment firm which has exercised an EEA right deriving from the markets in financial instruments directive to establish a branch must not—

• (a) make a change in the requisite details of the branch,

• (b) use, for the first time, any tied agent established in the EEA State in which the branch is established, or

• (c) cease to use tied agents established in the EEA State in which the branch is established,

unless the requirements of paragraph (2) have been complied with.

• (2) The requirements are that—

• (a) the firm has given a notice to the Authority stating the details of the proposed change, and

• (b) the period of one month beginning with the day on which the firm gave the notice has elapsed.

• (3) The Authority must, as soon as reasonably practicable after receiving a notice under paragraph (2), inform the host state regulator of the proposed change.

• (4) Paragraph (1) does not apply to a change occasioned by circumstances beyond the firm’s control.

UK ... management companies: changes to services

UK investment firms: changes to services

12A

• (1) A UK investment firm which is providing services in a particular EEA State in exercise of an EEA right deriving from the markets in financial instruments directive must not—

• (a) make a change in the programme of operations, or the EEA activities, to be carried on in exercise of that right,

• (b) use, for the first time, any tied agent to provide services in the territory of that State, or

• (c) cease to use tied agents to provide services in the territory of that State,

unless the requirements of paragraph (2) have been complied with.

• (2) The requirements are that—

• (a) the firm has given a notice to the Authority stating the details of the proposed change, and

• (b) the period of one month beginning with the day on which the firm gave the notice has elapsed.

• (3) The Authority must, as soon as reasonably practicable after receiving a notice under paragraph (2), inform the host state regulator of the proposed change.

• (4) Paragraph (1) does not apply to a change occasioned by circumstances beyond the firm’s control.

UK insurance firms: changes to relevant EEA details of branches

Relevant EEA details for the purposes of regulation 13

UK insurance firms: changes to relevant UK details of branches

UK insurance firms: changes to services

Relevant details for the purposes of regulation 16

Offences relating to failure to notify changes

Prescribed cases: establishment

2A

• (1) The case in paragraph (2) is prescribed for the purposes of paragraph 13(1C) of Schedule 3 to the Act (establishment).

• (2) The case is the receipt by the FCA of a consent notice in respect of an investment firm to which the obligation in Article 28(2) of the capital requirements directive applies, where the investment firm intends to provide services or activities in the United Kingdom which consist of or include dealing on its own account.

Provision of services: contents of regulator’s notice

Notice of qualification for authorisation

3A

The appropriate UK regulator must notify the other regulator when an EEA firm qualifies for authorisation where—

• (a) the PRA is the appropriate UK regulator;

• (b) the FCA is the appropriate UK regulator and the EEA firm intends to carry on a PRA-regulated activity in the United Kingdom.

PART 3A — TREATY FIRMS

Notice of qualification for authorisation

19A

The appropriate UK regulator must notify the other regulator when a Treaty firm qualifies for authorisation where—

• (a) the PRA is the appropriate UK regulator;

• (b) the FCA is the appropriate UK regulator and the EEA firm intends to carry on a PRA-regulated activity in the United Kingdom.

Meaning of “the appropriate UK regulator”

10A

In this Part, “the appropriate UK regulator” means—

• (a) in relation to a UK firm which is a PRA-authorised person, the PRA;

• (b) in any other case, the FCA.

UK ... management companies, credit institutions and financial institutions: changes to branch details

UK investment firms: changes to branch details

UK ... management companies: changes to services

UK investment firms: changes to services

UK insurance firms: changes to relevant EEA details of branches

Relevant EEA details for the purposes of regulation 13

UK insurance firms: changes to relevant UK details of branches

UK insurance firms: changes to services

Relevant details for the purposes of regulation 16

Offences relating to failure to notify changes

EEA AIFM: changes to branch details or services

7A

• (1) An EEA AIFM which is exercising an EEA right in the United Kingdom deriving from the alternative investment fund managers directive must not make a material change to any of the matters referred to in regulation 2(6)(b) to (e) or 3(5)(b) or (c) unless the relevant requirement has been complied with.

• (2) Where the relevant requirement has been complied with, the EEA AIFM's permission is to be treated as varied accordingly.

• (3) For the purposes of this regulation, the “relevant requirement” is that the home state regulator has informed the appropriate UK regulator that it has approved the proposed change.

• (4) In this regulation “the appropriate UK regulator” has the same meaning as in paragraph 14 of Schedule 3.

Full-scope UK AIFM: changes to branch details or services

17A

• (1) A full-scope UK AIFM which has exercised an EEA right, deriving from the alternative investment fund managers directive, to establish a branch must not change any of the matters referred to in regulation 2(6)(aa) to (e) unless the relevant requirements have been complied with.

• (2) A full-scope UK AIFM which is providing services in exercise of an EEA right deriving from the alternative investment fund managers directive, other than the EEA right to market an AIF, must not change—

• (a) the programme of operations, or the EEA activities, to be carried out in exercise of that right,

• (b) the EEA States, other than the United Kingdom, in which it manages AIFs, or

• (c) the identity of the AIFs it manages in those States,

unless the relevant requirements have been complied with.

• (3) A full-scope UK AIFM which is marketing an AIF in exercise of an EEA right deriving from the alternative investment fund managers directive, must not make a material change to any of the following matters, unless the relevant requirements have been complied with—

• (a) the programme of operations identifying the AIF the AIFM intends to market and information on where the AIF is established;

• (b) the AIF rules or instruments of incorporation;

• (c) identification of the depositary of the AIF;

• (d) the description of, or any information on, the AIF available to investors;

• (e) where the master AIF is established, if the AIF is a feeder AIF;

• (f) any additional information referred to in Article 23.1 of the alternative investment fund managers directive, for each AIF the AIFM intends to market;

• (g) the EEA States, other than the United Kingdom, in which the AIFM intends to market the units or shares of the AIF to professional investors;

• (h) information about arrangements made for the marketing of the AIF and, where relevant, arrangements established to prevent the AIF from being marketed to retail investors, including in the case where the AIFM relies on the activities of independent entities to provide investment services in respect of the AIF.

• (4) For the purposes of this regulation, the “relevant requirements” in the case of a planned change are that—

• (a) the AIFM has given written notice of the change to the appropriate UK regulator at least one month before implementing the change; and

• (b) either—

• (i) the appropriate UK regulator has consented to the change; or

• (ii) the appropriate UK regulator has not objected to the change in the period of one month beginning on the day on which the firm gave notice.

• (5) For the purposes of this regulation, the “relevant requirements” in the case of an unplanned change are that—

• (a) the AIFM has given written notice of the change to the appropriate UK regulator as soon as reasonably practicable and, at the latest, immediately after an unplanned change has occurred; and

• (b) the appropriate UK regulator has not objected to the change.

• (6) If a planned change would mean the AIFM no longer complied with an implementing provision, the appropriate UK regulator must inform the AIFM without undue delay that—

• (a) the FCA objects to the change; and

• (b) the AIFM must not implement the change.

• (7) If—

• (a) a planned change is implemented, or

• (b) an unplanned change takes place,

as a result of which the AIFM no longer complies with an implementing provision, the appropriate UK regulator must take steps to ensure that the AIFM complies with that provision or ceases to exercise the EEA right.

• (8) If a change notified under paragraph (4)(a) or (5)(a) does not affect compliance with an implementing provision, the appropriate UK regulator must—

• (a) give a notice to the host state regulator informing it of the change; and

• (b) inform the firm that it has given the notice, stating the date on which it did so.

• (9) If the appropriate UK regulator objects to a change under paragraph (6), takes steps under paragraph (7) or refuses to give notice to the host state regulator under paragraph (8)—

• (a) the AIFM may refer the matter to the Tribunal; and

• (b) the appropriate UK regulator must give notice to the AIFM of the reasons for its decision to object, to take such steps or to refuse to give such notice.

• (10) In this regulation—

• “depositary” has the meaning given in regulation 2 of the Alternative Investment Fund Managers Regulations 2013;

• “feeder AIF” has the meaning given in Article 4.1(m) of the alternative investment fund managers directive;

• “implementing provision” means a provision implementing the alternative investment fund managers directive or a provision of any directly applicable EU regulation made under that directive;

• “master AIF” has the meaning given in Article 4.1(y) of that directive;

• “retail investor” has the meaning given in Article 4.1(aj) of that directive.

Offences relating to failure to notify changes

EEA mortgage intermediary: changes to branch details or services

7B

• (1) An EEA mortgage intermediary which is exercising an EEA right in the United Kingdom deriving from the mortgages directive must not make a material change to any of the matters referred to in regulation 2(8)(b) to (e) or regulation 3(6)(b) to (e) unless the relevant requirements have been complied with.

• (2) Where the relevant requirements have been complied with, the mortgage intermediary's permission is to be treated as varied accordingly.

• (3) For the purposes of this regulation, the “relevant requirements” are those of paragraph (4) or (if the change is occasioned by circumstances beyond the mortgage intermediary's control) paragraph (5).

• (4) The requirements of this paragraph are that—

• (a) the mortgage intermediary has given a notice to the appropriate UK regulator and to its home state regulator stating the details of the proposed change; and

• (b) either the appropriate UK regulator has informed the mortgage intermediary that it may make the change, or the period of one month beginning with the day on which the mortgage intermediary gave the appropriate UK regulator the notice mentioned in sub-paragraph (a) has elapsed.

• (5) The requirements of this paragraph are that the mortgage intermediary has as soon as practicable (whether before or after the change) given a notice to the appropriate UK regulator and to its home state regulator, stating the details of the change.

• (6) The appropriate UK regulator must, as soon as practicable after receiving a notice from a mortgage intermediary under this regulation, inform the mortgage intermediary of any consequential changes in the applicable provisions (within the meaning of paragraph 13 or, as the case may be, paragraph 14 of Schedule 3).

• (7) In this regulation “the appropriate UK regulator” has the same meaning as in paragraph 14 of Schedule 3.

EEA mortgage intermediaries giving up right to authorisation

9A

• (1) The appropriate UK regulator may, where paragraph (2) or (3) applies, direct that the qualification for authorisation given to an EEA mortgage intermediary under Schedule 3 is cancelled from such date as may be specified in the direction.

• (2) This paragraph applies if the appropriate UK regulator receives notice (“a withdrawal notice”) from the EEA mortgage intermediary's home state regulator stating that the EEA mortgage intermediary's authorisation which gives rise to an EEA right under the mortgages directive has been withdrawn.

• (3) This paragraph applies if—

• (a) despite action taken by the appropriate regulator under section 194C of the Act, the EEA mortgage intermediary persists in contravening an obligation to which Article 34(2) of the mortgages directive applies; and

• (b) the appropriate UK regulator has informed the home state regulator that it intends to direct that the qualification for authorisation given to the EEA mortgage intermediary under Schedule 3 is cancelled.

• (4) Where paragraph (3) applies and the appropriate UK regulator makes a direction under paragraph (1), the appropriate UK regulator must inform the European Commission of that direction without undue delay.

• (5) In this regulation “the appropriate UK regulator” has the same meaning as in paragraph 14 of Schedule 3.

UK firm exercising an EEA right under the mortgages directive: changes to branch details or services

17B

• (1) A mortgage intermediary which has exercised an EEA right deriving from the mortgages directive to establish a branch or provide services must not make any material change to the requisite details of the branch or to the services to be carried on in exercise of that EEA right unless the requirements of paragraph (2) have been complied with.

• (2) The requirements are that—

• (a) the mortgage intermediary has given a notice to the appropriate UK regulator stating the details of the proposed change, and

• (b) the period of one month beginning with the day on which the mortgage intermediary gave the notice has elapsed.

• (3) The appropriate UK regulator must, as soon as reasonably practicable after receiving a notice under paragraph (2), inform the host state regulator of the proposed change.

• (4) Paragraph (1) does not apply to a change occasioned by circumstances beyond the mortgage intermediary's control.

Offences relating to failure to notify changes

Insurance intermediary: changes to branch details or services

7C

• (1) An EEA firm which is exercising an EEA right in the United Kingdom deriving from the insurance distribution directive must not make a material change to any of the matters referred to in regulation 2(9) or regulation 3(4) as the case may be unless the relevant requirements have been complied with.

• (2) Where the relevant requirements have been complied with, the insurance intermediary’s permission is to be treated as varied accordingly.

• (3) For the purposes of this regulation, the “relevant requirements” are those in paragraph (4).

• (4) The requirements of this paragraph are that—

• (a) the firm has given a notice to its home state regulator stating the details of the proposed change; and

• (b) the period of one month beginning with the day on which the firm gave notice has elapsed.

UK firm exercising an EEA right under the insurance distribution directive: changes to branch details or services

17C

• (1) A UK firm which has exercised an EEA right deriving from the insurance distribution directive to establish a branch or provide services must not make any material change to the relevant details (as defined in regulation 17D) unless the requirements of paragraph (2) have been complied with.

• (2) The requirements are that—

• (a) the UK firm has given a notice to the appropriate UK regulator stating the details of the proposed change, and

• (b) the period of one month beginning with the day on which the UK firm gave the notice has elapsed.

• (3) The appropriate UK regulator must, as soon as reasonably practicable, and in any event within a period of one month beginning with the day on which the notice under paragraph (2)(a) was received, inform the host state regulator of the proposed change.

Relevant details for the purpose of regulation 17C

17D

The relevant details for the purposes of regulation 17C are—

• (a) the name, address and, where applicable the registration number of the intermediary;

• (b) the category of intermediary and, if applicable, the name of any insurance or reinsurance undertaking represented;

• (c) the relevant classes of insurance, if applicable; and

• (d) where the intermediary has established a branch or permanent presence—

• (i) the address in the host Member State from which documents may be obtained; and

• (ii) the name of any person responsible for the management of the branch or permanent presence.

Offences relating to failure to notify changes